Respiratory Device Market

Respiratory Device Market Outlook from 2024 to 2034

Respiratory Devices, in the light of combination therapies for the treatment of COPD and asthma, have made significant strides toward market growth. The recent COVID pandemic has also brought in front of healthcare professionals, the significance of respiratory devices as major tools for mitigating the spread and severity of respiratory illnesses. This is set to take the market valuation to an astounding USD 26873.7 million in 2024.

Medicare advancements, thanks to the hefty investments by private as well as public healthcare companies have also amplified the acceptance and adoption of these devices in the developed and developing parts of the world. As the industry analysis exhibits an outstanding growth of 9.90% CAGR through 2034, the future prospects of the respiratory device market seem very lucrative.

Manufacturers involved in the production and distribution of these devices are also curating equipment that is not only effective but also affordable to the general populace. Despite the advent of alternative methodologies and treatments, the market valuation is very likely to surpass USD 69,072.5 million by the end of 2034. Medical inclusion policies and initiatives by governments in underdeveloped and developing countries are also bringing an enormous number of people under the purview of the respiratory device market.

Attributes	Details
Market Value for 2024	USD 26,873.7 million
Projected Market Value for 2034	USD 69,072.5 million
Value-based CAGR of the Market for 2024 to 2034	9.90%

Category-wise Insights

Positive Airway Pressure Devices Retain their Dominance in the Healthcare Sector

Various types of respiratory devices have flooded the market, thanks to the advent of numerous companies in the market. Home oxygen concentrators, portable oxygen devices, positive airway pressure devices, etc., are some of the prominent ones. Among these, positive airway pressure devices are estimated to hold a market share of 31.30% in 2024.

Attributes	Details
Product	Positive Airway Pressure Devices
Market Share (2024)	31.30%

• The demand for positive airway pressure devices in the healthcare sector is touching the skies as they offer effective treatment for sleep apnea and other respiratory disorders. These devices are also inexpensive ways to improve quality of life and reduce the risk of complications associated with respiratory diseases.
• Positive airway pressure devices also offer significant benefits in reducing daytime fatigue. This feature of it has increased its popularity among the daily office-goers and frequent travelers who struggle with sleep disturbances.

Hospitals Consume Almost Half Respiratory Devices

Respiratory devices find their applications in a wide spectrum of healthcare facilities such as hospitals, ambulatory surgical centers, clinics, long-term care centers, etc. Hospitals to take the largest share of 40.70% of the overall market in 2024.

Attributes	Details
End User	Hospitals
Market Share (2024)	40.70%

• The clamor for respiratory equipment in the hospitals is touching the skies, especially post-pandemic, as they are vital for treating patients with severe respiratory complications such as pneumonia, acute respiratory distress syndrome (ARDS), and chronic obstructive pulmonary disease (COPD).
• Hospitals are also generating substantial demand for respiratory equipment as they offer proper airway management and ventilation during surgical procedures.

Country-wise Insights

Countries	CAGR (2024 to 2034)
Germany	12.10%
France	11.90%
India	11.40%
Canada	10.30%
Mexico	10.10%

Mergers and Acquisitions to Shape the Future of Germany’s Respiratory Device Market

The market in Germany is a promising one. It is slated to surge at a CAGR of 12.10% through 2034.

• Responding to the growing demand for sophisticated, modern, and AI-driven connected respiratory devices, companies involved in the manufacturing of respiratory aids are partnering up with software companies.
• Partnerships and acquisitions are common in the country as they give both companies opportunities to take advantage of each other’s expertise. For instance, in June 2022, ResMed finalized the acquisition of Medifox Dan, a German out-of-hospital software firm. The deal, focused on respiratory devices, bolstered ResMed's capabilities in providing tools for staffing plans and care documentation to healthcare providers.

Sophisticated Medical Infrastructure Supports the Adoption of Respiratory Aids in France

France is also one of the most lucrative countries in this market. It is very likely to rise at a CAGR of 11.90%.

• When it comes to a well-established healthcare sector, France is considered one of the most advanced countries, not just in Europe but all over the world. Each year, millions of patients flock to the nation to take advantage of its advanced medical facilities.
• This creates a conducive environment for healthcare facilities such as hospitals, ambulatory surgical centers, clinics, etc., to accept and adopt these respiratory equipment for the treatment process of various diseases associated with lung functions.

Government Initiatives to Benefit India’s Respiratory Device Market

The future of the market in India also looks very bright. The market is slated to progress at a CAGR of 11.40% through 2034.

• The Indian government in the last few years has announced a multitude of schemes and policies to medically include a substantial portion of its population in the country’s healthcare sector. This has increased the need for respiratory devices in the country as hospitals are increasingly adopting these devices.
• The country’s overall improvement in the healthcare infrastructure, especially after the pandemic, has also made it easier for healthcare facilities to acquire and install respiratory devices, thus amplifying the market prospects in the country.

Made-in-Canada Devices to Help Elderly Patients Breathe

Canada’s respiratory device market is slated to inflate at a CAGR of 10.30% from 2024 to 2034.

• Canada has always been a frontrunner in medical advancements, thanks to the industry-academia collaboration in the country. The presence of world-class medical institutes in the country has led to the development of suave respiratory aids in Canada.
• In March 2021, St. Clair College collaborated with Windsor-based researchers to develop the Canada Hood, a ventilation device aiding critically ill patients. Built by Crest Mold Technology Inc., it aimed to address respiratory challenges during the COVID-19 pandemic.

Mexico’s Respiratory Device Market to Profit amidst Rising Smog

The respiratory aid market in Mexico is also very likely to flourish in the coming years. It is slated to inflate at a CAGR of 10.10% through 2034.

• Mexico is known for its agricultural activities. However, people’s tendency to burn waste after the harvest generates a substantial amount of smog in the environment. This has amplified the adoption of respiratory devices in the country.

Competitive Landscape

The market, globally, is a well-established one with a multitude of companies vying for international dominance. Hospitals, ambulatory surgical centers, clinics, etc., heavily rely on these companies for their respiratory requirements. These companies are also pouring billions of dollars into the development of product offerings that are not only effective but also affordable for the general populace.

Recent Developments

• In February 2024, ResMed launched its AirCurve 11 series, featuring bilevel-positive airway pressure devices in the USA The devices utilized inspiratory and expiratory positive airway pressure, aiding sleep apnea treatment with improved comfort and compliance.
• In August 2023, researchers from the University of Canterbury developed BOB, a tool unlocking respiratory data from devices. It facilitated data-driven respiratory care, reducing costs and wait times for patients. The software, developed by UC Engineering PhD students, provided real-time data interpretation and report generation for GPs.
• In February 2024, Dräger was honored with Frost & Sullivan's Company of the Year Award in global respiratory care, recognizing its innovative solutions and customer impact. The award highlighted Dräger's commitment to excellence in medical technologies and services.
• In February 2024, University Medical Devices secured USD 1.6 million in seed funding to launch MicroWash, a groundbreaking nasal specimen collection device. The investment aimed to advance infrastructure and bring the device to market, addressing respiratory infections with a more comfortable alternative to nasal swabs.
• In April 2024, Clario announced its acquisition of AI-powered software company ArtiQ, bolstering its Respiratory Solutions portfolio. The integration of ArtiQ's technology with Clario's devices enhanced data quality and patient experience in respiratory clinical trials.
• In June 2023, SunMed acquired Avanos Medical's respiratory health business for USD 110 million. The deal included inventory, assets, and leases for manufacturing facilities in Mexico. This expanded SunMed's portfolio after purchasing Vyaire Medical's hardware earlier that year.
• In July 2023, ResMed acquired Somnoware, a software maker specializing in sleep and respiratory diagnostics. This strategic move bolstered ResMed's position in the market, particularly amidst competitor challenges.
• In October 2022, Australia-based firm AirPhysio launched respiratory devices in Chennai, India. Brett Lee, former Australian cricketer, unveiled the AirPhysio and Better Breathing product range alongside Apollo Hospital’s managing director Suneeta Reddy. The company partnered with Medsmart and Apollo Group for the rollout.

Key Companies

• Massimo Corporation
• Teleflex Incorporated
• Fisher & Paykel Healthcare Limited
• ResMed Inc.
• Hamilton Medical AG
• Medtronic plc.
• Koninklijke Philips N.V.
• Smith’s Medical
• General Electric Healthcare Limited
• Drägerwerk AG & Co. KGaA
• Inogen Inc.

Key Coverage in the Respiratory Device Market

• Demand Analysis of Respiratory Devices For COPD
• Overview of Airway Devices in Anesthesia
• Market Insights on Breathing Aids
• Industrial Analysis of Breathing Aids for Sleep Apnea
• Emerging Trends in the Respiratory Device Market

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 5.1. Respiratory Consumables
    • 5.1.1. Respiratory Mask
    • 5.1.2. Nasal Cannulas
    • 5.1.3. Oxygen Tubing Sets
    • 5.1.4. Breathing Filters
  • 5.2. Oxygen Concentrators
    • 5.2.1. Home Oxygen Concentrators
    • 5.2.2. Portable Oxygen
    • 5.2.3. Concentrators`
    • 5.2.4. Positive Airway Pressure (PAP) Devices
    • 5.2.5. Polysomnography Devices
    • 5.2.6. Ambulatory PSG Devices
    • 5.2.7. Clinical PSG Devices
    • 5.2.8. Pulse Oximeters
    • 5.2.9. Mechanical Ventilators
    • 5.2.10. Spirometers
  • 5.3. Nebulizers
    • 5.3.1. Compressed Jet Nebulizers
    • 5.3.2. Ultrasonic Nebulizers
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Users
  • 6.1. Hospitals
  • 6.2. Ambulatory Surgical Centers
  • 6.3. Clinics
  • 6.4. Long Term Care Centers
  • 6.5. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Massimo Corporation
  • 17.2. Teleflex Incorporated
  • 17.3. Fisher & Paykel Healthcare Limited
  • 17.4. ResMed Inc.
  • 17.5. Hamilton Medical AG
  • 17.6. Medtronic plc.
  • 17.7. Koninklijke Philips N.V.
  • 17.8. Smith’s Medical
  • 17.9. General Electric Healthcare Limited
  • 17.10. Drägerwerk AG & Co. KGaA
  • 17.11. Inogen Inc.
• 18. Assumptions & Acronyms Used
• 19. Research Methodology